Thursday 9th July 2026
Daily Market Update: 09 July 2026
US strikes on Iran rattle markets but banks steady the ASX
The Australian sharemarket recovered from a sharp early sell-off to close slightly lower on Wednesday, as US strikes on Iran reignited fears of a wider Middle East conflict, lifting oil and weighing on risk assets. The S&P/ASX 200 Index lost 0.2 per cent, or 18.80 points, to 8785.10. Five of the 11 sectors finished in the red, though a late rally in banks helped buoy the recovery. Higher oil prices weighed on gold as renewed attacks revived inflation fears and clouded the outlook for US rate cuts, dragging Regis Resources Limited (ASX: RRL) down 5.1 per cent to $6.33, Evolution Mining Limited (ASX: EVN) 4.2 per cent to $11.44, and Northern Star Resources Limited (ASX: NST) 1.7 per cent to $20.31. BHP Group Limited (ASX: BHP) dropped 2.3 per cent to $57.51 as unions launched industrial action that could affect its Port Hedland export terminal, while WiseTech Global Limited (ASX: WTC) dived 7.3 per cent to $34.65 on profit-taking.
Banks, insurers and energy names drive the recovery
Financials led the rebound, with Australia and New Zealand Banking Group Limited (ASX: ANZ) up 1.2 per cent, National Australia Bank Limited (ASX: NAB) and Commonwealth Bank of Australia (ASX: CBA) each 0.9 per cent, and Westpac Banking Corporation (ASX: WBC) 0.3 per cent. The oil rebound lifted Woodside Energy Group Limited (ASX: WDS) 3.2 per cent and Santos Limited (ASX: STO) 5.8 per cent, its biggest gain since March 2. Telstra Group Limited (ASX: TLS) fell 3 per cent after a nationwide outage, ResMed Inc. (ASX: RMD) slipped 0.8 per cent on the sale of its MatrixCare business, and Adairs Limited (ASX: ADH) dropped 1.3 per cent after warning of a $43 million loss.
US markets close mixed as chipmakers rebound
US indices closed mixed as higher oil worsened the macro backdrop while chipmakers rallied. The S&P 500 fell 0.3 per cent, the Dow Jones Industrial Average lost 577 points, and the Nasdaq 100 gained 0.3 per cent. Treasury yields rose on renewed Iran tensions and Fed minutes signalling possible further hikes. Credit-sensitive sectors weakened, with JPMorgan Chase & Co. (NYSE: JPM) losing 2.5 per cent and Visa Inc. (NYSE: V) down 1.3 per cent. Most AI hyperscalers fell amid concerns over heavy data centre spending, with Alphabet Inc. (NASDAQ: GOOGL) down 1.4 per cent, Amazon.com Inc. (NASDAQ: AMZN) off 1 per cent, and Microsoft Corporation (NASDAQ: MSFT) down 1.4 per cent. Chipmakers lifted the index, with Broadcom Inc. (NASDAQ: AVGO) up 4.8 per cent on an expanded supply deal and NVIDIA Corporation (NASDAQ: NVDA) up 3.6 per cent.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.2 | 0.7 | 2.0 | -1.4 | 6.2 |
| Financials | 0.5 | 3.2 | 5.5 | -3.4 | 4.3 |
| Resources | -1.3 | -1.1 | -6.7 | -5.1 | 45.8 |
| Information Technology | -1.4 | 0.3 | 0.0 | 8.5 | -25.1 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | -0.3 | -0.3 | 3.6 | 12.7 | 13.8 |
| Europe | -0.8 | 0.9 | 5.0 | 6.2 | 10.0 |
| Japan | -1.5 | 0.3 | 3.5 | 8.1 | 25.5 |
| China top 50 | 4.7 | 2.6 | -5.5 | -8.6 | -13.8 |
| India top 50 | -1.3 | -1.1 | 3.8 | -1.9 | -19.2 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.4 | -0.3 | 0.6 | 1.2 | 0.9 |
| Australian Corporate Bond | -0.1 | -0.3 | 0.7 | 1.4 | 1.6 |
| US Treasury | -0.3 | -0.4 | -0.1 | -0.5 | 3.0 |
| Cash | 0.0 | 0.1 | 0.4 | 1.1 | 4.0 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 0.2 | 1.2 | -2.8 | -11.8 | 18.2 |
| Silver | -0.2 | 3.9 | -14.6 | -19.5 | 55.7 |
| Crude Oil | 5.1 | 2.8 | -21.1 | -14.4 | 31.1 |
| Bitcoin | -0.9 | 3.6 | 4.2 | -11.5 | -46.6 |
